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Securities and Exchange Commission v. Koenig

United States Court of Appeals for the Seventh Circuit
557 F.3d 736 (7th Cir. 2009)


Facts

The SEC (plaintiff) brought a securities fraud suit against James Koenig, the former CEO of Waste Management, Inc. (WMI). At trial, the judge allowed the jury to submit to him clarifying questions that the jurors had for various witnesses. The trial judge asked some of the questions he got from the jurors as is; reformulated some before asking; and did not ask some that he felt were inappropriate or repetitive. In the end, the trial court ruled in favor of the SEC. Koenig appealed on the grounds that the judge should not have allowed jurors to ask questions of the witnesses.

Rule of Law

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Issue

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Holding and Reasoning (Easterbrook, C.J.)

The holding and reasoning section includes:

  • A “yes” or “no” answer to the question framed in the issue section;
  • A summary of the majority or plurality opinion, using the CREAC method; and
  • The procedural disposition (e.g. reversed and remanded, affirmed, etc.).

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